One of my favorite features of Mountain Lion to demonstrate so far has been the iCloud Document Library. This is a way to store your iWork, TextEdit, and Preview documents in iCloud so that they are immediately accessible from other Macs on the same iCloud account as well as on connected iOS devices.
TUAW blogger and developer Erica Sadun told me the secret behind this on Wednesday. If you go to your Library folder and open the "Mobile Documents" folder, you'll notice that the name of the folder changes to iCloud (see screenshot below). That's where all of those documents are saved, and it's even possible to just drag items into the folder to add them to your iCloud Document Library.